MP Materials Corp. (NYSE:MP) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of MP Materials Corp. (NYSE:MP) by 69.3% during the fourth quarter, HoldingsChannel reports. The firm owned 3,775 shares of the company’s stock after purchasing an additional 1,545 shares during the quarter. GAMMA Investing LLC’s holdings in MP Materials were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of MP Materials by 425.5% during the second quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock worth $10,201,000 after purchasing an additional 648,838 shares during the last quarter. Bank of Montreal Can grew its position in MP Materials by 188.1% during the 2nd quarter. Bank of Montreal Can now owns 898,960 shares of the company’s stock worth $11,462,000 after purchasing an additional 586,906 shares during the period. Segall Bryant & Hamill LLC raised its stake in shares of MP Materials by 32.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,245,796 shares of the company’s stock valued at $21,988,000 after buying an additional 306,933 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of MP Materials during the 3rd quarter worth approximately $4,584,000. Finally, Bernzott Capital Advisors increased its holdings in shares of MP Materials by 43.4% during the 3rd quarter. Bernzott Capital Advisors now owns 689,270 shares of the company’s stock valued at $12,166,000 after purchasing an additional 208,586 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insider Activity at MP Materials

In other news, CFO Ryan Corbett sold 15,195 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total transaction of $278,068.50. Following the completion of the transaction, the chief financial officer now directly owns 295,021 shares in the company, valued at $5,398,884.30. This trade represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total transaction of $6,066,000.00. Following the sale, the chief executive officer now owns 18,043,076 shares in the company, valued at $364,830,996.72. This trade represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 884,862 shares of company stock valued at $17,484,482. 12.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MP has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on shares of MP Materials from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Morgan Stanley raised their price objective on MP Materials from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. BMO Capital Markets upped their target price on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Canaccord Genuity Group upped their price objective on shares of MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.10.

MP Materials Price Performance

NYSE:MP opened at $19.78 on Monday. MP Materials Corp. has a one year low of $10.02 and a one year high of $24.01. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock has a 50 day moving average price of $18.85 and a 200 day moving average price of $16.17. The stock has a market cap of $3.23 billion, a PE ratio of -36.63 and a beta of 2.31.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.